Bath Bath & Beyond, closes all remaining Harmon pharmacies
The health and beauty provider is present in six states.
The troubles are preparing for Bed Bath and beyond for some time now. The large retailer continues to close stores in the middle decrease of sales - And just this month, the company expressed concerns On his ability to keep off . As a result, Bed Bath & Beyond should soon file for bankruptcy, Wall Street's journal reported, but in the meantime, he still seeks means to maintain operations and Keep liquidation . The last effort includes the closure of all of his Harmon pharmacies. Read the rest to learn more about the last mass closure.
Read this then: Clothing channels, including talbots, close stores .
All Harmon locations stop.
Bed Bath & Beyond closes all his Harmon pharmacies, according to a notice published on the company's website. "Thank you to all our Loyal fans And customers, "the announcement indicates." Unfortunately, we made the decision difficult to close our Harmon stores. You can search for your favorite products in Select Bed Bath & Beyond Stores or on Bedbathandbeyond.com. ""
There are 52 remaining Harmon locations, operating under Harmon facial values or banners of facial values. Stores sell health and beauty products in six states: California, Connecticut, Florida and Nevada, as well as New York and New Jersey - where it has the greatest presence.
"While we consider all paths and Strategic alternatives , we continue to work with our advisers and implement actions to manage our activities as effectively as possible " Julie Strider Last week, Yahoo finances closing plans in Yahoo. "We will update all stakeholders on our plans as they develop and finalize." AE0FCC31AE342FD3A1346EBB1F342FCB
Bath Bath & Beyond has not confirmed when Harmon stores close. From this afternoon, however, the brand's website is no longer active. Better life contacted the company to comment, but has not yet heard.
Bed Bath & Beyond also closes more flagship stores.
In addition to the 52 Harmon closings, the leaders also confirmed that 87 Bead Batl & Beyond Flagship Stores and five Buybuy stores to close too. It's also 150 " lower "Bed Bath & Beyond Stores, which are part of the closing plans announced in August 2022.
Yahoo Finance Live Anchors discussed the difficult situation of Bed Bath & Beyond, with Brian Sozzi explaining that the retailer closes these stores " Keep the species at this critical moment. ""
Sales have decreased for decades, said Sozzi, adding that 2017 marked a real drop. Now the problem is exacerbated while Bed Bath & Beyond, the lenders cut the business credit, and the sellers have stopped shipping goods to its stores, for fear of not being paid.
"If you cannot store your shelves, you cannot generate sales," said Sozzi. "You cannot bring cash flows. And everything becomes a big black vortex."
In fact, the anchor called Bed Bath & Beyond of a "zombie retailer", which means that you can visit the stores, but you will probably not have much to choose. "You can probably go there and get a towel, get a toothbrush if you need it or cups for your home," said Sozzi. "But overall, the inventory is unlikely to be current, and there is a good chance that if you return in a few days after your last visit, the shelves will probably be naked."
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These stories are simply not as attractive to customers.
The naked shelves go beyond the benefits that have lost for the company - limited inventories also affect Bed Bath & Beyond with customers, according to experts.
"If the consumer does not think that there is value to spend time there, or put gas in the tank and spend all this gas on your trip to the bath and beyond, or even to enter into The store, so it continues with Bed Bath and beyond difficulty moving the product they have in store, "Yahoo Finance Live Anchor Brad Smith said January 30.
In this case, buyers are more likely to go to other channels where they can seize everything in a single time, without worrying about making several stops. "It's a waste of time to go," said Sozzi about Bed Bath & Beyond. "You want to make all your purchases in one day."
Bath Bath & Beyond may have to close all stores.
In light of all these current problems, Bed Bath & Beyond could be forced to close entirely, according to Wall Street's journal . The company has limited restructuring options due to its lack of financing, credit and goods on the shelf - and if managers do not find a solution or buyer to buy the company, the company may have to close Most, if not all, of its stores.
That said, an agreement could still be concluded, and the company was in talks with a business and restructuring service company, Hilco Global, which could provide funds to pay the sellers, said sources.